In today’s highly regulated financial services industry, firms win and lose customers based on the quality of customer experience and their reputation. In recent years, top-tier financial institutions have been fined by regulators for lack of governance and diligence in the Know Your Client (KYC) and Anti-Money Laundering processes. In fact, interactions required to fulfill compliance obligations are often best opportunities to learn about clients’ needs and develop deeper, richer relationships.

Find out how NexJ can help streamline Know Your Client processes

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NexJ can help streamline Know Your Client processes with NexJ CRM

Faced with changing regulations in multiple geographies, leading firms turn to NexJ’s KYC Workflow and Approval to fulfill their regulatory obligations. NexJ’s run-time configurable forms and approval processes allow firms to adapt to changing business and regulatory conditions in real-time. Smart forms walk the user through the data capture process, while ensuring data already available never needs to be re-entered. Advisors are guided through the process, creating an efficient, positive customer experience. Once the forms are completed, they are automatically sent through an approval process. This efficient, positive experience can encourage clients to be more willing to take on additional products over time, driving further additional revenue. At the same time, ongoing KYC monitoring can uncover new customer needs over time.

NexJ KYC Workflow and Approval Process with NexJ CRM

NexJ’s integrated KYC process has a number of advantages:

  • Rule-driven periodic and on-demand KYC generation ensures adherence to compliance rules
  • Integrated CRM record ensures no data is entered twice, improving efficiency and quality of interactions
  • Reduces the burden of regulatory compliance, giving advisors more time to better sell to and service their clients
  • Data captured in the KYC enhances existing client records and is used to discover new products and services required by the client
  • Run-time configurability allows for rapid adaptation to changing regulatory and business needs